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Louisville reaches settlement with Rick Pitino
Louisville reaches settlement with Rick Pitino
247sports.com
The Rick Pitino-era at the University of Louisville is official over.
Nearly two years after the Hall of Fame basketball coach was fired leading to his filing a breach of contract lawsuit against the University, the two parties have reached a settlement.
Pitino, who was seeking around $40 million in his lawsuit, and the university were in mediation last week, leading to the settlement on Wednesday. The University of Louisville’s Athletic Association’s executive committee approved the settlement at a morning meeting.
As part of the agreement, Pitino’s departure from Louisville in his personnel file will be changed from his being fired to “resignation.” Pitino will not receive any money from the school as a result of entering into this agreement.
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Pitino released this statement through his lawyer Steve Pence:
"Today I move on to a new chapter in my life. Against my lawyer’s advice, I’m dropping my lawsuit with ULAA. I am very proud of the many accomplishments my teams achieved at Louisville. I’m so thankful and honored to coach such dedicated athletes. I’m also disappointed in how it ended. But as head coach I am held responsible for the actions of all team members. I still have so much passion for the game and so many goals I want to achieve. From this day forward I start my climb.”
